Driven Brands (NASDAQ:DRVN) is a prominent player in the automotive service industry, owning well-known brands like MAACO, Meineke Car Care, Take 5 Oil Change, and Auto Glass Now. The company offers a range of services, from car repairs to oil changes, catering to a broad customer base. However, recent financial challenges have impacted its stock performance.
On February 25, 2026, Piper Sandler downgraded Driven Brands from an Overweight to a Neutral rating, with the stock priced at $11.60. This downgrade coincides with significant financial issues within the company. Driven Brands announced material errors in its financial statements for 2023 and 2024, leading to a 35% stock decline by Wednesday morning.
The errors in Driven Brands' financial statements include problems with lease recording, expense misclassification, and cash account discrepancies. These issues were discovered during the preparation of the Q4 2025 financial report. As a result, the company will restate its financials for the past two years and delay its Q4 2025 results.
Driven Brands' stock, currently at $11.60, reflects a decrease of $5.01 or -30.16%. The stock hit a low of $9.80 and a high of $11.95 during the trading day. Over the past year, it reached a high of $19.74 and a low of $9.80. The company's market capitalization stands at approximately $1.91 billion, with a trading volume of 14.87 million shares.
